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The UK housing market is facing a downturn, with Halifax reporting a 0.1% decline in the average cost of a home in April, marking the second consecutive monthly drop. This follows a 0.5% decrease in March, bringing the typical home price to £299,313.
Halifax, part of Lloyds Banking Group, has revised its annual growth forecast for house prices, reducing it from 0.8% to just 0.4%. The adjustments are attributed to the ongoing conflict in the Middle East, which has created uncertainty in the market and affected economic conditions.
The decline in house prices and the halved growth forecast are significant for potential buyers and investors, indicating a shift in the housing landscape that could impact decisions in the coming months.
As the situation develops, stakeholders in the UK housing market will be closely monitoring these trends and their implications for affordability and investment.
Source: www.theguardian.com – https://www.theguardian.com/money/2026/may/08/uk-house-price-growth-forecast-halved-iran-war-housing-market